Hong Kong Approves Spot Bitcoin & Ethereum ETFs: Hashkey & Boshi Lead the Way
In a groundbreaking move, the Hong Kong Securities and Futures Commission (SFC) has approved the launch of two Spot Bitcoin & Ethereum ETF pairs, marking a significant milestone in the virtual asset industry. Boshi Funds and HashKey Capital Limited, prominent players in both traditional finance and the virtual asset space, have come together to lead this historic initiative. Additionally, ChinaAMC has also received approval for its Bitcoin & Ethereum ETFs, further solidifying Hong Kong’s position as an international financial center and virtual asset hub.
Boshi International and HashKey Capital expressed their excitement about the approval of these ETFs, highlighting the expansion of investors’ asset allocation options and the strengthening of Hong Kong’s status as a global financial hub. The approval of the first-ever Ethereum ETF is seen as a major achievement for the region, opening up new opportunities for mainstream and retail investors.
Both companies emphasized the importance of the currency-holding subscription mechanism, which allows investors to use Bitcoin and Ethereum directly to subscribe for corresponding ETF shares, enhancing convenience and accessibility for investors. ChinaAMC also received approval for its ChinaAMC Bitcoin and Ethereum ETFs, set to be listed on April 30, 2024. Zhu Haokang, Head of digital asset management at ChinaAMC, highlighted the significance of these ETFs in providing a safe and efficient tool for digital asset allocation.
The approval of these ETFs is seen as a regulated and accessible alternative to physical cryptocurrencies, attracting investors looking for exposure to the crypto market through regulated products. With a focus on developing a strong Web 3.0 ecosystem, China Asset Management reaffirmed its commitment to meeting customer investment needs through innovative product strategies.
Overall, the approval of these Spot Bitcoin & Ethereum ETFs in Hong Kong represents a significant step forward for the virtual asset industry, providing investors with new opportunities and further establishing the region as a key player in the global financial market.
